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Receivables Reconciliation Summary Out of Balance

Contributing Cover User Brokey
7 Posts
Contributing Cover User
New Zealand

Receivables Reconciliation Summary Out of Balance

I have just started with MYOB and my first Gst reconcillation didnt balance.  It was to do with the imbalance in the Receivables with GST.  After much checking every thing seemed okay (except this imbalance) We are on Fergus and our invoices sync over from there.  After checking this report on a daily balance, I have found that this imbalance changes every day and we did have one day when there was no imbalance which happened to be a day I was away and no invoices were produced.  Is any one else out there on Fergus and having this problem? Should I worry about it or is it just a timing issue? Any suggestions appreciated

5 REPLIES
Ultimate Partner Mike_James
3,217 Posts
Ultimate Partner
New Zealand

Re: Receivables Reconciliation Summary Out of Balance

Hi @Brokey, for your kind of problem you really need to get an MYOB partner on site to go through the reports with you. Have you got reports from both MYOB and Fergus that you can use to check on a daily or weekly or monthly basis that what gets sent out from Fergus iswhat comes in to MYOB? (In MYOB, the sales register reports, and customer sales summaries, would be helpful. 

 

Because you've highlighted the GST content, have you looked at an individual sales invoice in both systems, to check that the numbers are the same, and the GST content is the same? Each system can calculate GST differently. (If you are managing receivables in MYOB then I presume Fergus is posting each invoice).  In MYOB, edit and invoice and choose Edit, Recap transaction, this should show you the accounting entry if you need it).

 

I suspect that you record job purchases to Fergus, and so purchases are transferred to MYOB just as sales invoices are. You don't say whether the Payables GST is an issue?

Regards Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
Ultimate Partner Mike_James
3,217 Posts
Ultimate Partner
New Zealand

Re: Receivables Reconciliation Summary Out of Balance

PS: with cloud systems of course, your MYOB partner can work with you remotely. I'd offer to help, but I am unavailable for a couple of weeks.

Regards Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise Report Writer - Custom Reporting from MYOB programs
(Including AccountRight Classic/Live, and exo Payroll)
Ultimate Partner jenniek
2,022 Posts
Ultimate Partner
New Zealand

Re: Receivables Reconciliation Summary Out of Balance

Hi @Brokey

Have you checked the value of invoices that came from Fergus in any particular day and then checked the sales that we went into MYOB? I would be checking the settings in Fergus - that the GL codes are correctly posting. It could well be a timing issue - but the debtors should remain in balance and the problem should be solved before it goes much further.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
Contributing Cover User Brokey
7 Posts
Contributing Cover User
New Zealand

Re: Receivables Reconciliation Summary Out of Balance

Thanks everyone for your help.  After posting I ran another report - "Sales (Customer Summary)" for 31/1/17 and discovered that some of the Invoices dated 31/1 werent on the "Receivables with GST" report as at 31/1/17. They did not appear till the next day on this report but were in all the other places in MYOB as at 31/1/17.  After checking each day individually after this, I found that nearly all the invoices arent appearing on the "Receivables with GST" till the next days report. Dont know why as I would have thought this was date driven and all the dates are correct.  Will have to get someone to help with this. Obviously something to do with transferring over but this still doesnt explain why it does not appear on say, the 31/1 report when it is run on 3/2 - still only appears on 1/2 report.  I am happy that everything is transferring over correctly as we have had no other problems with dates, invoice numbers or accounts except for this problem.

 

My payables are okay as I do these only in MYOB.

Contributing Cover User Brokey
7 Posts
Contributing Cover User
New Zealand

Re: Receivables Reconciliation Summary Out of Balance

Have now spoken to MYOB and are quite happy that this is a false out of balance because of a timing issue with Fergus.  To make sure that my receiveables with GST are correct, I will check on Mondays that the Out Of Balance Amount is 0.00 which it always is as we dont work over the weekends and the timing issue sorts itself out. Thanks for your comments

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